ORLEN Spó?ka Akcyjna

Equities

PKN

PLPKN0000018

Oil & Gas Refining and Marketing

Market Closed - Warsaw S.E. Other stock markets 11:55:52 2024-04-26 am EDT			5-day change	1st Jan Change
67.32 ^PLN	+0.93%		-0.49%	+2.78%

Apr. 26	Orlen S.A. Recommends Dividend Payment for the Year 2023	CI
Apr. 24	Orlen Calls Off Orders for Oil, Refined Products from Venezuela	MT

Poland's Orlen sells natural gas storage operator to Gaz-System

March 15, 2024 at 03:55 am EDT

WARSAW (Reuters) - Polish refiner Orlen said on Friday it signed an agreement to sell Gas Storage Poland, the country's gas storage operator, to the state run gas-pipeline operator Gaz-System.

The sale was a condition set by the country's antimonopoly regulator for Orlen's merger with gas company PGNiG and requires its clearance.

Orlen merged with PGNiG in 2022 and took over the storage facility owned by the gas company.

Concentrating the transmission system, the liquefied natural gas terminal and gas storage in one capital group guarantees optimal decisions regarding the expansion of storage installations and their modernisation, Gaz-System said in a separate statement on Friday.

(Reporting by Marek Strzelecki; editing by Jason Neely)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	S&P GSCI NATURAL GAS INDEX	90.04 PTS	-3.17%	-3.27%	-
	ORLEN SPÓ?KA AKCYJNA	67.32 PLN	+0.93%	-0.49%	19.29B

Latest news about ORLEN Spó?ka Akcyjna

Orlen S.A. Recommends Dividend Payment for the Year 2023	Apr. 26	CI
Orlen Calls Off Orders for Oil, Refined Products from Venezuela	Apr. 24	MT
Orlen Files Complaint in Poland Against Intermediaries for Swiss Oil Trading Deals	Apr. 23	MT
Polish Oil Refiner Orlen Seeks Prosecutors' Help in Investigating Misconducts of Former Officials	Apr. 23	MT
Polish refiner Orlen wants former management probed, radio report says	Apr. 22	RE
Orlen to Build 130 MW Solar Power Farm in Lower Silesia Region	Apr. 17	CI
Orlen S.A. Announces Board Changes	Apr. 17	CI
Poland Minister Calls For Probe into Orlen Over 'Extreme Irresponsibility' in Oil Deal	Apr. 12	MT
Europe's main energy stocks index hits highest since 2008	Apr. 12	RE
Poland investigating if Orlen unit breached oil sanctions, report says	Apr. 11	RE
Orlen Flags PLN1.6 Billion Hit for FY23 Over Undelivered Oil Products	Apr. 11	MT
Orlen Names President of Management Board	Apr. 11	MT
Orlen S.A. Appoints Ireneusz Fafara as New CEO	Apr. 10	CI
Poland's Orlen names former Lithuanian chief as CEO	Apr. 10	RE
Vestas Secures Wind Turbines Order from Orlen Group Unit in Poland	Mar. 27	MT
Power Utility Energa Announces Management Changes	Mar. 26	CI
Norway court lifts injunction against two oilfield developments, Greenpeace says	Mar. 21	RE
Venture Global LNG to buy fleet of LNG vessels	Mar. 17	RE
Orlen to Sell Gas Storage Poland to Gaz-System	Mar. 15	MT
Poland's Orlen sells natural gas storage operator to Gaz-System	Mar. 15	RE
Operator Gazociagow Przesylowych GAZ-SYSTEM Sp. z o.o. has concluded an agreement to acquire Operator Systemu Magazynowania Sp. Z O.o. from Orlen S.A..	Mar. 14	CI
Venture Global LNG asks US energy regulator to keep documents confidential	Mar. 14	RE
Orlen S.A. Provides Earnings Guidance for the Year 2023	Mar. 14	CI
Poland's Orlen sees one-off increasing 2023 net profit by about $1.48 billion	Mar. 13	RE
China's Unipec wants say in Venture Global LNG's extension request	Mar. 11	RE

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Company Profile

ORLEN Spó?ka Akcyjna (formerly Polski Koncern Naftowy ORLEN Spó?ka Akcyjna) specializes in refining and distribution of oil products. Net sales break down by activity as follows: - crude oil refining (47.4%); - distribution of petroleum products (23.5%): medium distillates (54.3% of net sales), light distillates (37.6%) and other (8.1%); - production and distribution of electricity (9.7%); - natural gas distribution (9.3%); - manufacture of petrochemical products (8.8%); - exploration for and extraction of mineral resources (1%); - other (0.3%). Net sales are distributed geographically as follows: Poland (58.8%), Czech Republic (10.8%), Germany (9.1%), Lithuania/Latvia/Estonia (6.3%) and other (15%).

Sector

Oil & Gas Refining and Marketing

Calendar

2024-05-22 - Q1 2024 Earnings Release

Related indices

STOXX EUROPE 600 (EUR)

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Ratings for ORLEN Spó?ka Akcyjna

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ESG Refinitiv

C+

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

67.32 PLN

Average target price

80.44 PLN

Spread / Average Target

+19.49%

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Petroleum Refining